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‘Nigeria losing huge revenues in mining’

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Olamilekan Adegbite

Minister of Mines and Steel Development, Olamilekan Adegbite

The Minister of Mines and Steel Development, Olamilekan Adegbite, has said Nigeria is losing huge revenue as well as value in the mining sector due to the fact that solid minerals were mined and exported in their raw form.

He noted that the raw materials were subsequently refined and imported into the country and sold at exorbitant prices.

He said this during a TVC News live interview monitored in Abuja on Tuesday.

He said, “Nigeria loses a lot of value not just in terms of the money realisable but also in terms of jobs we export with our raw ores.”

He cited an example of gold, which he said was mined in Nigeria and refined elsewhere.

“When we mine gold in Nigeria, for instance, we take it in the dull form to Dubai.

“The same quantum of gold is manipulated with skills into jewellery and all that, and we go back to buy the same quantum of gold.”

He added that the ministry was making efforts to curb the loss and boost the mining sector.

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Insecurity, high fuel cost, forex challenges driving inflation – LCCI

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Toki Mabogunje

President, Lagos Chamber of Commerce and Industry, Toki Mabogunje

The Lagos Chamber of Commerce and Industry has urged the government to make deliberate efforts towards making the business environment conducive for MSMEs and large corporations.

LCCI president, Mrs Toki Mabogunje, at a quarterly press briefing in Lagos on Tuesday, acknowledged government’s efforts in assisting businesses to recover from the COVID-19 pandemic but added more could still be done.

Mabogunje said insecurity, high fuel cost and forex liquidity were the drivers of inflation in the economy, all of which had reduced investors’ confidence, despite stronger oil prices and exit from recession.

She said, “Insecurity in the northern and middle belt of the country and its impact on agriculture activities, high cost of logistics on the back of domestic  energy prices, and cost of  agricultural inputs, lingering   liquidity concern in the foreign exchange market and the pass-through effect of exchange rate on imported raw materials and finished items have allowed for inflation to remain elevated  has created serious implications for various economic agents including households, businesses, and investors.”

She added the right policy and regulatory framework were required to create an enabling investment environment for the advancement of the Nigerian economy and the good of all investors and economic players.

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All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.

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Nigeria’ll export petrol in two years – NNPC

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NNPC GMD, Mele Kyari

NNPC GMD, Mele Kyari

The Nigerian National Petroleum Corporation on Tuesday said refined petroleum products would be exported from Nigeria to other countries in the next two years.

Nigeria currently imports refined petroleum products such as petrol, kerosene, diesel, etc, while the NNPC has been the sole importer of petrol into the country for more than three years.

This came as the Vice President, Prof. Yemi Osinbajo, also announced on Tuesday that the presidency would give timely consideration to the Petroleum Industry Bill that was recently passed by the National Assembly.

Osinbajo and Kyari spoke during an oil and gas event in Abuja. The vice president assured stakeholders that the PIB would receive the necessary urgency it required.

Speaking through the Minister of State for Petroleum Resources, Chief Timipre Sylva, Osinbajo said, “As you are aware, just last week the National Assembly passed the long awaited PIB.

“This unprecedented feat has been adjudged as a watershed moment for our nation. Let me assure you that the bill when transmitted to the presidency for assent will receive necessary and timely consideration.”

On moves to export refined petroleum products from Nigeria, Kyari said NNPC had developed initiatives around refinery rehabilitation, was focusing on it and would deliver on it.

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APC extends membership registration in Ogun, Kwara, two others

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The Caretaker/Extraordinary National Convention Planning Committee of the All Progressives Congress has approved two weeks extension of the APC membership registration and revalidation exercise in Ogun, Rivers, Kwara and Imo states.

This was contained in a statement titled, ‘Membership Registration To Continue in Imo, Kwara, Ogun, Rivers States,’ signed by the party’s National Secretary, John Akpanudoedehe, in Abuja, on Tuesday.

He explained that the decision was taken based on the recommendation of the Membership Registration Appeals Committee.

Akpanudoedehe said, “With this approval, the membership registration, revalidation and register update exercise in the four states will continue for two weeks.

“Those who have not been registered in these States can purchase forms for congresses, party office elections and conventions.

“For congresses in Rivers State, all those who have purchased forms in the past will be allowed to participate in the congresses on the presentation of the bank teller as proof of payment.

“Registration materials have been adequately deployed to the listed states and any attempt to deprive intending registrants will be dealt with accordingly in line with the provisions of the APC constitution and guidelines for the exercise.

“All Nigerians who are desirous of joining the progressive fold are welcome to take advantage of this window and register as members of the APC.”

He expressed the party’s appreciation to the millions of Nigerians who “earlier trooped to the registration, revalidation and register update centres across the country to take part in the exercise.”

Matawalle’s defection, an unpardonable act of betrayal, says PDP

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Ologbondiyan

Kola Ologbondiyan

The People Democratic Party has described the defection of Zamfara State Governor, Bello Matawalle, to the All Progressives Congress as an unpardonable act of betrayal.

The party made this known on Saturday in a statement signed by its National Publicity Secretary, Kola Ologbondiyan.

The statement partly read, “Governor Matawalle must, however, note that joining such individuals, who have brought so much anguish and pain to his people, is an unpardonable act of betrayal which will continue to act as an albatross particularly against the backdrop of his own vows.”

In the statement, the PDP also claimed that the APC used security threats as bait to lure the governor into its party.

“It is indeed atrocious and most unpardonable that the APC is using the blood of innocent and helpless Nigerians for its political gains as well as to create a gory merchandise for its leaders and cronies,” the statement revealed.

The party further alleged that the Governor “did not defect to the APC because the party has any democratic credential as erroneously claimed by the APC national leader, Asiwaju Bola Tinubu, but only surrendered to intimidation and cowardly joined those behind the killings and acts of violence in Nigeria.”

Oshiomhole welcomes Matawalle to APC

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Mutawalle.fw

Zamfara State Governor, Bello Matawalle

The immediate past National Chairman of the All Progressives Congress, Adams Oshiomhole, has welcomed Zamfara State Governor, Bello Matawalle, to the ruling party.

The PUNCH had earlier reported that‎ Matawalle dumped opposition Peoples Democratic Party for APC.

Reacting in a letter he signed and made available to journalists through his media aide, Victor Oshioke on Saturday, the former Edo State governor said it is with great pleasure, relief and deep sense of personal satisfaction that he welcomes Matawalle to the APC.

The letter partly read, “It is with great pleasure, relief and a deep sense of personal satisfaction that I welcome you to our party, the All Progressives Congress.

“I have for long looked forward to this day when you will reunite with the APC, your original party so that the good works and impressive performance which the people of Zamfara state enjoy under your administration will be accurately documented as legacies of APC.

“It takes a man of courage, conscience, principles and honour to make this long-awaited move which not many politicians in our clime would have the audacity to undertake.

“I am delighted that your coming to the APC with your legion of supporters is not only a boost for our great party in terms of numbers, but brings onboard our platform, a sound mind, accomplished administrator and proven performer who has won the admiration of the Zamfara people by virtue of your exceptional leadership.

“I have absolute confidence that all APC stakeholders in the state will welcome you with open arms and accord you the well-earned respect that you richly deserve.”

Matawalle’s defection, an unpardonable act of betrayal, says PDP

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Ologbondiyan

Kola Ologbondiyan

The People Democratic Party has described the defection of Zamfara State Governor, Bello Matawalle, to the All Progressives Congress as an unpardonable act of betrayal.

The party made this known on Saturday in a statement signed by its National Publicity Secretary, Kola Ologbondiyan.

The statement partly read, “Governor Matawalle must, however, note that joining such individuals, who have brought so much anguish and pain to his people, is an unpardonable act of betrayal which will continue to act as an albatross particularly against the backdrop of his own vows.”

In the statement, the PDP also claimed that the APC used security threats as bait to lure the governor into its party.

“It is indeed atrocious and most unpardonable that the APC is using the blood of innocent and helpless Nigerians for its political gains as well as to create a gory merchandise for its leaders and cronies,” the statement revealed.

The party further alleged that the Governor “did not defect to the APC because the party has any democratic credential as erroneously claimed by the APC national leader, Asiwaju Bola Tinubu, but only surrendered to intimidation and cowardly joined those behind the killings and acts of violence in Nigeria.”

Oshiomhole welcomes Matawalle to APC

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Mutawalle.fw

Zamfara State Governor, Bello Matawalle

The immediate past National Chairman of the All Progressives Congress, Adams Oshiomhole, has welcomed Zamfara State Governor, Bello Matawalle, to the ruling party.

The PUNCH had earlier reported that‎ Matawalle dumped opposition Peoples Democratic Party for APC.

Reacting in a letter he signed and made available to journalists through his media aide, Victor Oshioke on Saturday, the former Edo State governor said it is with great pleasure, relief and deep sense of personal satisfaction that he welcomes Matawalle to the APC.

The letter partly read, “It is with great pleasure, relief and a deep sense of personal satisfaction that I welcome you to our party, the All Progressives Congress.

“I have for long looked forward to this day when you will reunite with the APC, your original party so that the good works and impressive performance which the people of Zamfara state enjoy under your administration will be accurately documented as legacies of APC.

“It takes a man of courage, conscience, principles and honour to make this long-awaited move which not many politicians in our clime would have the audacity to undertake.

“I am delighted that your coming to the APC with your legion of supporters is not only a boost for our great party in terms of numbers, but brings onboard our platform, a sound mind, accomplished administrator and proven performer who has won the admiration of the Zamfara people by virtue of your exceptional leadership.

“I have absolute confidence that all APC stakeholders in the state will welcome you with open arms and accord you the well-earned respect that you richly deserve.”

APC crisis: You didn’t fund our campaigns, Kwara lawmakers reply Lai Mohammed

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Lai Mohammed

Lai Mohammed

Members of the Kwara State House of Assembly have described as baseless and unfounded a claim by the Minister of Information and Culture, Alhaji Lai Mohammed, that he funded the election of members of the ninth legislature in the state.

The members said the only Governor AbdulRahman AbdulRazaq supported them during their campaigns.

The Speaker of the House, Yakubu Danladi-Salihu, spoke on behalf of the members at a press conference in Ilorin, the state capital.

He clarified that reiterated that the Minister did not in any form support the then APC House of Assembly candidates during the campaigns and election.

Danladi-Salihu, who spoke through the Deputy Speaker of the House, Raphael Olanrewaju Adetiba, a member representing Oke-Ero Constituency, explained that Mohammed’s claim is farther from the truth.

“We ordinarily should have ignored the Minister and took it as another lie from Lai Mohammed but for the unsuspecting members of the public and posterity, the record needs to be set straight,” he said, flanked by several members of the Assembly.

The speaker said the briefing is jointly held on behalf of 21 of the 24 members of the Assembly, whom he said were convinced that Kwara can no longer be brought under any godfather or slave driver.

He said, “Lai Mohammed did not give any support in any form to members of the ninth legislature during the campaign and election; if he did, he should name who and what he gave out.

“Lai Mohammed did not participate in any of our election campaigns and did not also contribute financially to it.”

“Apart from the governorship candidate, the other support was the sum of N500,000 each that we received from the national headquarters of our party. Other than that, it was the governor who funded our expenses including logistics, souvenirs, posters and other campaign materials. Even so, at no time did the Governor go about telling anyone that he funded our campaign.

“It is also laughable that Lai Mohammed could claim to have personally raised money to finance the 2019 general elections in Kwara State.”

The lawmakers advised the minister not to drag them into any fuss he may be having with the Governor and leader of the part in the state.

Delta APC tackles Okowa over fresh N4bn loan

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okowa 2.fw

Okowa

The Delta State chapter of the All Progressives Congress, on Sunday, accused Governor Ifeanyi Okowa of mortgaging the future of the state following the recent approval of his N4bn loan request by the House of Assembly.

Recall, the Assembly had on Tuesday, June 29, approved the governor’s N4 billion requests for a credit facility from Zenith Bank.

In his letter to the House, Okowa explained that the loan was to enable his administration complete ongoing people orientated projects.

However, the opposition APC, in a statement signed by its state caretaker Publicity Secretary, Sylvester Imonin, said, “The N4bn loan was not only approved hastily but was done in a commando style without any due diligence or questioning by the House of Assembly of the sincerity and purpose of the loan.

“Delta APC and most Deltans are worried because the said approved loan was not tied to any specific project (s)

“The projects to be funded with the loan were not mentioned, yet the ‘Honourable members’, without raising eyebrows and ensuring that they act in the best interest of Deltans, quickly approved the same. What an amalgam of people! A rubber stamp legislature at best.

“Information at the disposal of Delta APC is that the approved loan is to be used to fund the buying of utility vehicles, and financial inducements to some politically unstable Deltans that the PDP led-government of the State wants in the PDP at all costs.”

The APC further said, “The future of Deltans and generations yet unborn cannot continue to be mortgaged because of the greed of a few in Government circles.”

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